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Dec 30, 2012
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halt an increase in the estate tax. now in case that deal breaks down, the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor. that bill would increase taxes for households that earn 250- thousand dollars or more. now that's a democratic proposal, and you can expect republicans would block it. so rather than thinking of that as a stop-gap measure, think of it as a political move to try to shift the responsibility of failure onto republicans just before the nation reaches the hour of reckoning. jessica yellin >> a connecticut lawyer wants to sue the state over the sandy hook elementary school shooting. irving pinsky says the state failed to provide a safe setting. he's pursuing 100-million dollars in damages on behalf of an unidentified 6- year-old girl who survived the massacre. pinsky says the girl heard gunfire, screaming, and conversations over the intercom and was left with emotional scars. 26 people, including 20 children, were killed at the newtown school two wee
halt an increase in the estate tax. now in case that deal breaks down, the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor. that bill would increase taxes for households that earn 250- thousand dollars or more. now that's a democratic proposal, and you can expect republicans would block it. so rather than thinking of that as a stop-gap measure, think of it as a political move to try to shift the responsibility of failure onto republicans...
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Dec 30, 2012
12/12
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KRON
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halt an increase in the estate tax. now in case that deal breaks down, the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor. that bill would increase taxes for households that earn 250- thousand dollars or more. now that's a democratic proposal, and you can expect republicans would block it. so rather than thinking of that as a stop-gap measure, think of it as a political move to try to shift the responsibility of failure onto republicans just before the nation reaches the hour of reckoning. jessica yellin >> still ahead on kron 4 news at eight. a multi-million dollar lawsuit. on behalf of a six year old who survived the newtown school shooting. we meet the lawyer who is taking up the case. then. police put up sobriety check points just in time for the new year celebrations. we'll tell you where. plus. >> coming up the best and the worst in the next edition of people behaving badly. >>> police are cracking down on people drinking and getting behind the wheel this hol
halt an increase in the estate tax. now in case that deal breaks down, the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor. that bill would increase taxes for households that earn 250- thousand dollars or more. now that's a democratic proposal, and you can expect republicans would block it. so rather than thinking of that as a stop-gap measure, think of it as a political move to try to shift the responsibility of failure onto republicans...
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Dec 28, 2012
12/12
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KRON
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many republicans are against any tax increases. most americans just want something to be done. >> if people are just tired of partisanship. we just want everyone to come together. >> if lawmakers do not come together then this may lead to recession. i am and \ / \ \ / ed payne reporting. >> we will be right back. [ male announcer ] if you're ready to get more from your tv service, now's a great time to get at&t u-verse tv. make the switch. [ female announcer ] call now to get at&t u-verse tv for only $29 a month for 6 months, with a total home dvr included free for life. plus, add hbo and cinemax and get the first three months free. [ male announcer ] with u-verse tv, you can record four shows at once with the total home dvr that lets you play back, pause, or rewind your shows from any room. get over 170 hd channels. that's more than cable. [ female announcer ] call now to get at&t u-verse tv for only $29 a month for 6 months, with a total home dvr included free for life. plus, add hbo and cinemax, and get the first three months fr
many republicans are against any tax increases. most americans just want something to be done. >> if people are just tired of partisanship. we just want everyone to come together. >> if lawmakers do not come together then this may lead to recession. i am and \ / \ \ / ed payne reporting. >> we will be right back. [ male announcer ] if you're ready to get more from your tv service, now's a great time to get at&t u-verse tv. make the switch. [ female announcer ] call now to...
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Dec 28, 2012
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KRON
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many republicans remain against any tax increases. >> former president george h. w. bush is still in intensive care at a hospital in houston. the former president's family is confident that he will be out of i see you soon. if the former president's chief of staff since supporters a note yesterday including this ". " he would ask me to tell you to please put the harks back in the closet. " the 88 year old has been in a hospital for more than a month, after first coming down with bronchitis. >> we will be right back. >> as we take a look get the weather. tomorrow we do have rain for the area. we could see like rain for the morning hours but it should be dry within saturday afternoon. as we look a head a will be generally dry as we head into monday afternoon and range chances may increase as we head into wednesday. i will have full details coming up. >> satellite and radar shows that the more interested in offshore and this is all that we saw this morning. as we put a future cast 4 in motion it is backing off. by 3:00 p.m. we may have light rain. remember that it is fr
many republicans remain against any tax increases. >> former president george h. w. bush is still in intensive care at a hospital in houston. the former president's family is confident that he will be out of i see you soon. if the former president's chief of staff since supporters a note yesterday including this ". " he would ask me to tell you to please put the harks back in the closet. " the 88 year old has been in a hospital for more than a month, after first coming down...
SFGTV: San Francisco Government Television
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Dec 27, 2012
12/12
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SFGTV
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with their ability of each one of those organizations to provide the in-kind service and not to over tax and as a result, we are doing that once a quarter, i think that it is incredibly reasonable to do that. 160 officers will be trained in the patrol force. and we are moving on. the discussions are supporters and moving the cit forward and i leave with you with this. this is not about in and off itself, mental health, this is about all officers engaging with people in our community who are, whose ability with a threat to the public. so in each one of these where the former chiefs have brought this to bear it has been precipitated by a tragic event and quite frankly, our officers we want to stop having to use deadly force. the calls of service will not imulate from the professionals who are dealing with the person who constitutes the threat. it is about dealing with the aggressive behavior of folks that is threatening to the public that we have ko contend with and not necessarily it is an issue, with that said, i thank you for having us, and the chief is moving forward, with the level of
with their ability of each one of those organizations to provide the in-kind service and not to over tax and as a result, we are doing that once a quarter, i think that it is incredibly reasonable to do that. 160 officers will be trained in the patrol force. and we are moving on. the discussions are supporters and moving the cit forward and i leave with you with this. this is not about in and off itself, mental health, this is about all officers engaging with people in our community who are,...
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Dec 27, 2012
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WBAL
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harry reid's plan will avoid tax creases for -- tax increases for people making too large and $50,000. >> you will see a two-step process here, one with the media dynamic so you can set up a situation where you can deal with a larger situation. >> without a deal, bush-era tax cuts will expire january 1 and spending cuts will set in. counters -- congress has set a deadline but so far that has backfired. now there is a new warning from the treasury secretary that this country is about to hit its debt limit and needs to act fast. in washington, danielle leigh, nbc news. >> as we head to the new year, a number of new laws are set to effect here in maryland. one allowing gay couples to marry as of january 1. another new law states baltimore city elections will be held on the same cycle as the presidential election, meaning officials will get an extra year in office. as of january 1, a parent or guardian will have the right to free credit reports to protect kids and disabled adults from identity theft. it is hoped it will protect foster children, who are especially vulnerable. >> we are hop
harry reid's plan will avoid tax creases for -- tax increases for people making too large and $50,000. >> you will see a two-step process here, one with the media dynamic so you can set up a situation where you can deal with a larger situation. >> without a deal, bush-era tax cuts will expire january 1 and spending cuts will set in. counters -- congress has set a deadline but so far that has backfired. now there is a new warning from the treasury secretary that this country is about...
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Dec 27, 2012
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. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go over the cliff because i think if we do it hurts our economy and it hurts our country. >> middle class people should know their taxes go up a average of $2,000 a year and also start making meaningful reform
. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on...
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Dec 27, 2012
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say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to the silliness of what we are in right now, which is the last throes of these congressional shenanigans. we may get a deal. i talked to some folks on the senate side who think they can get a deal together in the next 48 hours, that there will probably be some meet nth white house in the next 24 to 367 hours. and it's possible they could cobble together something. but i did have others who said to me, particularly those on the house said that said you know what, it's almost easy irat this pointing to over the cliff. next week they get to be cutting taxes, where this week they're raising them, ev
say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to...
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Dec 24, 2012
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what would the level be for taxes for revenue. in how much would be raised in revenue and what would it mean in new spending cuts? >> the spending cuts would be a trillion $450 billion. $2.6 trillion. couple that with the $1.1 trillion already done and you are at $3.7 trillion. and look, is it perfect? no. is it everything we he hoped for? >> no. does it match what bowles simpson did? no. on an even comparison bowles simpson would be $5.3 trillion. >> chris: let me ask you one last quick question. are you saying that you don't like the president's plan? >> look, it may come to that but i would hope that we would have one last attempt here to do what everyone knows needs to be done. which is a larger plan that really does stablize the debt and get us moving in the right direction and does it in it a way that is cognizant that we have an economy that is recovering, that still is weak and we don't slam it. we don't slam on the brakes here in a way that puts us back into recession, that increases jobless rate to 9.1%. >> chris: let me
what would the level be for taxes for revenue. in how much would be raised in revenue and what would it mean in new spending cuts? >> the spending cuts would be a trillion $450 billion. $2.6 trillion. couple that with the $1.1 trillion already done and you are at $3.7 trillion. and look, is it perfect? no. is it everything we he hoped for? >> no. does it match what bowles simpson did? no. on an even comparison bowles simpson would be $5.3 trillion. >> chris: let me ask you one...
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Dec 29, 2012
12/12
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but until now they've done little to agree on tax increases on tax cuts until that time. people in this building have none what's coming on tuesday yet they're only returning to get back to work just now. senate came back yesterday. house members, well, they won't be back until sunday. this afternoon house on senate leaders met with president obama at the white house. they talked for about an hour. afterwards president obama said he was modestly optimistic. bypassing house speaker john boehner, who has had trouble getting his fellow republicans to agree to anything, the president called on senate majority on minority leads are harry reid on mitch mcconnell to work out a deal on then present it to the house. he also laid out a scaled down mini deal if they are can't manage it. >> if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor, i asked senator reid to do this, put a bill on the floor that makes sure that taxes on miedddle class families don' go up, that unemployment is still available for 2 million people on that lays
but until now they've done little to agree on tax increases on tax cuts until that time. people in this building have none what's coming on tuesday yet they're only returning to get back to work just now. senate came back yesterday. house members, well, they won't be back until sunday. this afternoon house on senate leaders met with president obama at the white house. they talked for about an hour. afterwards president obama said he was modestly optimistic. bypassing house speaker john boehner,...
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we have a governor focused on jobs and taxes. he's talking about gun confiscation. >> you can accomplish my -- publish my name if i don't pay taxes. >> these are people obeying the law. domestic violence victims, retired police. no way they should make this accessible for criminals and nut jobs. >> eric: have we heard from the paper? >> they are refuse to comment. >> no apologies, no we made a mistake. >> trace: and they haven't pulled the information. >> eric: have you contacted them. >> not recently but they know about my piece of legislation we got done in the assembly. >> this story is heating up on the internet, twitter and facebook. gregg ball, thank you very much. >> good to be here. >>> we have to leave it there. i'll see you on the five, 2.5 minutes or so. be right over there. [ male announcer ] this is joe woods' first day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant special
we have a governor focused on jobs and taxes. he's talking about gun confiscation. >> you can accomplish my -- publish my name if i don't pay taxes. >> these are people obeying the law. domestic violence victims, retired police. no way they should make this accessible for criminals and nut jobs. >> eric: have we heard from the paper? >> they are refuse to comment. >> no apologies, no we made a mistake. >> trace: and they haven't pulled the information....
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Dec 27, 2012
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WBAL
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talks cooled over the holidays over how to avoid the massive tax hikes. >> taxes are going to go up no matter what. they go up a lot more and that is where the political hit comes. >> house republicans point the finger at the other chamber saying the senate must act on a bill to avoid the fiscal cliff. the gop is blamed for the holdup. no further legislation can move unless republicans drop their knee-jerk obstruction. the mayfield gradual at first, except on wall street. >> the reaction of the financial markets and the stock markets. you could see something quick. >> a top ceo is hoping to jolts them into action. >> i am maintaining my optimism that we will see the republicans and administration come together and do what is right for the country. >> starbucks its in its message that our players in washington and take me out an ad featuring a quotation from lincoln. will it work? we will see. >> hallie jackson, thank you. >> kim dacey is live on what you need to know. >> about a dozen state laws will go into effect next tuesday. we have highlighted just a few. with any new year comes n
talks cooled over the holidays over how to avoid the massive tax hikes. >> taxes are going to go up no matter what. they go up a lot more and that is where the political hit comes. >> house republicans point the finger at the other chamber saying the senate must act on a bill to avoid the fiscal cliff. the gop is blamed for the holdup. no further legislation can move unless republicans drop their knee-jerk obstruction. the mayfield gradual at first, except on wall street. >>...
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Dec 30, 2012
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the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death. these details are new and we are still gathering information. there is david, he is in new york. david, what has this woman confessed? >> she seems to have confessed to a hate crime, don, she has been charged with second degree murder in the case of this man who was pushed off the subway platform in queens on thursday. and the queens district attorney's office released this statement. it was a quote from her saying i pushed a muslim off the tracks, ever since they put down the twin towers i've been beating them up. this adds a twist to the case that riled new york. this is the second inciden
the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death....
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Dec 28, 2012
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taxes will go out by an average of $4,400 for u.s. households if we go over the fiscal cliff. >> 5:23. maryland has a state bird and the state fish. >> what about a state sen w >> the star of bethlehem has been shining bright. the new owners have put the property up for sale. this will be the last year the ght the baltimoree baltimor sky. >> some lawmakers want the soft selhell crab to be the maryland state sandwich. lawmakers passed such legislation making it the official state dinner. >> are you a fan? >> i am not. >> a lot of people love it. 5:26. >> will it be progress or paralysis? all the details are just ahead. >> baltimore port workers could soon be going on strike. >> we are watching the next storm system that could bring more snow to maryland. >> this is 895 at the harbor tunnel. it is looking good at the moment >> you're watching wbal-tv 11. live, local, late-breaking. this is 11 news today at 5:00 a.m. >> good morning. welcome back to 11 news today. i am jennifer franciotti. >> i am sarah caldwell. thanks for joining us fo
taxes will go out by an average of $4,400 for u.s. households if we go over the fiscal cliff. >> 5:23. maryland has a state bird and the state fish. >> what about a state sen w >> the star of bethlehem has been shining bright. the new owners have put the property up for sale. this will be the last year the ght the baltimoree baltimor sky. >> some lawmakers want the soft selhell crab to be the maryland state sandwich. lawmakers passed such legislation making it the...
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Dec 23, 2012
12/12
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WTTG
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what would the level be for taxes for revenue? how much would be raised in revenue, and, what would it mean in new spending cuts? >> the spending cuts would be $1,450 billion and, the revenue, 1,150 billion dollars and that is a combination of $2.6 trillion. and you couple that with the $1.1 trillion already done, and, you are at $3.7 trillion. and, look, is it perfect? no, everything we hoped for? no. does it match what bowles-simpson did? no. at an even comparison it would be $5.3 trillion. >> chris: you're in the weeds. let me ask you a quick question. are you saying you don't like the president's plan? >> look. it may come to that. but i would hope we'd have one last attempt here to do what everyone knows needs to be done. which is the larger plan that really does stabilize the debt, and get us moving in the right direction. and, does it in a way that is cognizant that we have an economy that is recovering, that is still weak. and, we don't slam it. we don't slam on the brakes here in a way that puts us back into recession. th
what would the level be for taxes for revenue? how much would be raised in revenue, and, what would it mean in new spending cuts? >> the spending cuts would be $1,450 billion and, the revenue, 1,150 billion dollars and that is a combination of $2.6 trillion. and you couple that with the $1.1 trillion already done, and, you are at $3.7 trillion. and, look, is it perfect? no, everything we hoped for? no. does it match what bowles-simpson did? no. at an even comparison it would be $5.3...
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Dec 28, 2012
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just for argument sake if we only look at the tax issue, if we give the president all of the tax rate increases he wants, we are still looking at trillion dollar deficits every year. and the reality is that the house has already sent would measures on to the senate. one addressed the continuing bush era tax rates and the other that would erase the military spending. those are in the hands of the senate. they can act on those right now. we can put this thing to rest. we will wait and see what happens in this meeting and hopefully we will come to some kind of agreement to avoid this cliff. >> what do you think the best thing to come out of this meeting? >> i think that speaker boehner and the president walk out and be able to announce they have a team in next three days that will have an outline in which -- alice just mentioned the details will be hammered out in the first would weeks in january. we have that amount of time to stop the fiscal cliff. if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff
just for argument sake if we only look at the tax issue, if we give the president all of the tax rate increases he wants, we are still looking at trillion dollar deficits every year. and the reality is that the house has already sent would measures on to the senate. one addressed the continuing bush era tax rates and the other that would erase the military spending. those are in the hands of the senate. they can act on those right now. we can put this thing to rest. we will wait and see what...
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Dec 29, 2012
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president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. >>> but in a last minnesota minute compromise, both sides agree to $1 trillion in spending cuts up front, and another $1.2 trillion in cuts to be decided by a special congressional super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect, starting january 2013. at the exact moment when those bush tax cuts extended for two years, if you remember, would exp
president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government and...
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Dec 27, 2012
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just about everybody is going to have a tax increase. the number goes up significantly with incomes. if you are talking 200 to 500,000 in income almost 14,000 dollars in tax hikes. the wealthiest americans people that make a million dollars or more will pay an average of 216,000 dollars in additional tax that is money that would otherwise be spent to help boost the economy or invest it. this is a real concern for economists. the other wrench that was thrown in treasury secretary tim geithner says we are going to be up against the nation's debt ceiling a lot sooner than a lot of folks expected it will happen around the end of the year. they can use accounting gimmicks to extend that deadline for maybe a couple of months. but it would be part of any kind of a grand bargain. it is one more complication as the negotiations condition. >> doug luzader in washington thank you. >> thanks. >>> time now to entertain this. actress kate winslet officially tieing the not with her third husband ned rock and roll. he is the nephew of richard brans bran
just about everybody is going to have a tax increase. the number goes up significantly with incomes. if you are talking 200 to 500,000 in income almost 14,000 dollars in tax hikes. the wealthiest americans people that make a million dollars or more will pay an average of 216,000 dollars in additional tax that is money that would otherwise be spent to help boost the economy or invest it. this is a real concern for economists. the other wrench that was thrown in treasury secretary tim geithner...
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Dec 28, 2012
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that's just one day before the fiscal cliff deadline when income tax cuts and payroll tax cuts are set to expire, $110 billion worth of spending cuts kick in, and two million jobless americans lose their unemployment benefits. for the first time, leader reid said today that it looks like the nation is going to go over the fiscal cliff, but that may just have been bluster, jeff, to try to put more pressure on republicans. >> glor: so, nancy, the house coming back on sunday. is that a good sign? >> reporter: well, it is in the sense that if the senate does manage to pass something, the house would be here to vote on it, as well. originally, speaker boehner had told his members that he would give them 48 hours' notice if they were needed back here at the capitol, but there was a recognition, i think, that it just looked bad for the house to be gone when we were so close to the fiscal cliff deadline. >> glor: nancy cordes, thank you. major garrett has been following developments at the white house. major, what is the president's next move? >> reporter: it is not a breakthrough but it is a
that's just one day before the fiscal cliff deadline when income tax cuts and payroll tax cuts are set to expire, $110 billion worth of spending cuts kick in, and two million jobless americans lose their unemployment benefits. for the first time, leader reid said today that it looks like the nation is going to go over the fiscal cliff, but that may just have been bluster, jeff, to try to put more pressure on republicans. >> glor: so, nancy, the house coming back on sunday. is that a good...
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lower taxes versus more of a social safety net. and every time they come close to a deal, it falls apart because they have this fundamental disagreement about ideas. that's how we got here. they cannot agree on this basic notionation over this idealogical divide in america. >> what happens next? how likely it is we will go over the fiscal cliff. i'm curious what the mood is like in washington, d.c. right now? >> there's an infinitesimal improvement in washington because of the meeting today, but i still would say the odds, the people placing bets in this town still expect that the nation will go over the fiscal cliff. still a little more hope than when we woke up this morning, but no one is counting on being off on new year's eve. >> jessica, thanks. more now on the raw politics with "new york times" columnist raffle, and cornell belcher. the president said he wanted to see a straight up or down vote. as we mentioned, that will happen on monday in the senate. he could lose that up or down vote. >> what you're likely to see is somet
lower taxes versus more of a social safety net. and every time they come close to a deal, it falls apart because they have this fundamental disagreement about ideas. that's how we got here. they cannot agree on this basic notionation over this idealogical divide in america. >> what happens next? how likely it is we will go over the fiscal cliff. i'm curious what the mood is like in washington, d.c. right now? >> there's an infinitesimal improvement in washington because of the...
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but the danger for them is that these stopped being the bush tax cuts and become the obama tax cuts, right? i think that's what conservatives and republicans should be most worried about from a long-term political perspective right now. i mean, in a sense, they have sort of -- they have won a particular policy battle in the sense that most of the bush tax cuts, both parties believe should be extended. right? we're talking about 97%, 98% of the bush tax cuts. you could say that's a policy win for republicans, but if those tax cuts ended up getting branded as obama's tax cuts that he passed after we went over the fiscal cliff, it then loses whatever upside there was for republicans, except, and we have to mention this, for republicans vulnerable to primary challenges, there's obviously a lot of anxiety about being, you know, the first republican in 20 years to vote for a tax increase. i think that's the big fear, that it's been so long. republicans haven't cast this kind of vote. you don't want to be the first one to do it. >> yeah, and charles, we're told the democrats may be waiting
but the danger for them is that these stopped being the bush tax cuts and become the obama tax cuts, right? i think that's what conservatives and republicans should be most worried about from a long-term political perspective right now. i mean, in a sense, they have sort of -- they have won a particular policy battle in the sense that most of the bush tax cuts, both parties believe should be extended. right? we're talking about 97%, 98% of the bush tax cuts. you could say that's a policy win...
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. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking about how to retroactively avoid going off the fiscal cliff on a new congress. >>> the fiscal cliff debate is impacting people here in the bay area who's lives could dramatically change as soon as tomorrow. tom vacar is live at a highway work site in oakland and has the story of one woman and her looming fear. tom-- >> reporter: the people who work here are well paid and they're onvacaon. but for other people, the fiscal cliff might as well be a financial guillotine. though ilea thomas searches, she's been out of work for two years picking up any odd jobs as much as she can. >> it's been discouraging. i come in here thre
. >> we could tax all the rich people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking...
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Dec 29, 2012
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and let's focus on spending not taxes. that is where the problem is. >> there's disagreement over what colin just said, the president seems to be dealing from a position of strength, is he likely to get concessions that he needs to get the plan through or is this simply about revenues? >> this is mostly about revenues at this point, i think any deal that you will see the next day will be very narrow in scope. we will mostly deal with the issue of revenues and it will show republicans really backing down for their no-tax position and allowing a rate increase of some kind, that said, i'm still very skeptical that they can get to a point that can get all sides agreeing to something and it's something that the republicans can agree to in the house. you know, there's a very, very -- a slim chance of that happening, but if anything happens, it's going to be a small scope deal and not the big about deal that they have been talking about for a long time. >> colin, are you at all surprised that john boehner has been sidelined at th
and let's focus on spending not taxes. that is where the problem is. >> there's disagreement over what colin just said, the president seems to be dealing from a position of strength, is he likely to get concessions that he needs to get the plan through or is this simply about revenues? >> this is mostly about revenues at this point, i think any deal that you will see the next day will be very narrow in scope. we will mostly deal with the issue of revenues and it will show...
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Dec 29, 2012
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lower taxes versus more of a social safety net. and every time they come close to an agreement, it falls apart because they have a fundamentally different idea on the issues. they have this divide in america, randy. >> so what happens next? how likely is it that we'll go over the fiscal cliff? i'm curious about the mood in washington right now. >> there is an increase in optimism because of the mood out of that meeting today. but i still would say the people who are -- placing bets in this town still expect that the nation will go over the fiscal cliff. so still a little bit more hope than what we woke up this morning, but no one is counting on being off on new year's eve. >> randy. >> jessica, thank you, more now on the raw politics, good to see you both. cornell, let me start with you here, the president said he wanted to see a straight up or down vote. as we mentioned that could happen in the senate. we could lose the up or down vote. >> you are going to see something come out of the senate. you have to pay attention to the tone
lower taxes versus more of a social safety net. and every time they come close to an agreement, it falls apart because they have a fundamentally different idea on the issues. they have this divide in america, randy. >> so what happens next? how likely is it that we'll go over the fiscal cliff? i'm curious about the mood in washington right now. >> there is an increase in optimism because of the mood out of that meeting today. but i still would say the people who are -- placing bets...
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Dec 27, 2012
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at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a vote by which the only way that vote would get over the legislative would be with a majority of democrats. he doesn't want to do that to preserve his job. once we go over the cliff, we can possibly do more of a bungee jump if we reverse the damage quickly. in that vote republicans don't have to vote for a tax increase, which to me is absolutely ridiculous in terms of serving the economy and the country, but i guess the politics makes sense to some of these guys. >>> jared bernstein, thank you. the storm is coming. look at that storm, the symptom is coming behind you. >> you weren't talking about a fiscal
at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a...
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a main sticking point is tax increases on the wealthy. while some suggest raising taxes for those who earn a million the president wants increases on anyone making more than $250,000 a year. >> we just can't afford aself inflicted wound to the economy. the economy is growing. keeping it that way means that the folks you sent to washington have to do their jobs. >> in the weekly address they say congress must meet the deadline and pass a balanced plan that offers middle class tax cuts and reduces spending in a responsible manner. >> the president's proposal to raise taxes on the top 2% of americans won't pay a third of the yearly interest that's owed on this massive 16 trillon dollar debt. >> missouri senator roy blunt gave the gop weekly address. he said the president's tax hike would only fund the government for eight days. >> if no deal is reached here is a look at what could happen. 1.2million out of work americans will loose their extended unemployment benefits. california would be hit the hardest. 400,000 will loose those benefits an
a main sticking point is tax increases on the wealthy. while some suggest raising taxes for those who earn a million the president wants increases on anyone making more than $250,000 a year. >> we just can't afford aself inflicted wound to the economy. the economy is growing. keeping it that way means that the folks you sent to washington have to do their jobs. >> in the weekly address they say congress must meet the deadline and pass a balanced plan that offers middle class tax...
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Dec 27, 2012
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while the talking heads on tv go on about tax cuts for the rich and we get them, will we not get them, had is about spending and have to address spending now. >> when you read his moats, the -- outline that he sends to harry reid, he says the government is spending $100 billion more per month than what it brings in. i mean, it is really incredible. what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the white house's way, treasurer's way, of putting extra pressure on the people in the building behind us. by the way, none of them are there. i'm not sure that's really going to work, frankly. and -- i -- john, our colleague john harwood is exactly right. this is not a surprise. we knew this was coming. the question that it is, you know, three days -- thee business days, as you say before, the actual deadline itself, that's disconcerting. but -- again, it is not surprising. i don't think it has any -- will peak the negotiations at all, frankly. not at all. >> what about the secretary's use of this phrase -- the
while the talking heads on tv go on about tax cuts for the rich and we get them, will we not get them, had is about spending and have to address spending now. >> when you read his moats, the -- outline that he sends to harry reid, he says the government is spending $100 billion more per month than what it brings in. i mean, it is really incredible. what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the...
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Dec 29, 2012
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his plan for avoiding new year tax hike. >> luxury holiday cruise nightmare. not just happening on 1 ship nightmare. >> stern censorship changes over sea. one country insist all i know net users must do all i know net users must do before logging on. stay with >> late afternoon meeting at the white house brings some progress toward avoiding the fiscal cliff which is coming very soon. just a couple of days. tonight the president called the meeting constructiv constructive. mark matthews has look at the cost of going over the fiscal cliff if we do. >> president is optimistic but if deal can't be reached this weekend he will tell senate leader reid tiny introduce a fall back bill. >> bill on the floor that make sure that taxes on middle class family don't go up. that unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next y
his plan for avoiding new year tax hike. >> luxury holiday cruise nightmare. not just happening on 1 ship nightmare. >> stern censorship changes over sea. one country insist all i know net users must do all i know net users must do before logging on. stay with >> late afternoon meeting at the white house brings some progress toward avoiding the fiscal cliff which is coming very soon. just a couple of days. tonight the president called the meeting constructiv constructive. mark...
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if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican support, i can tell you what would pass. if asked if he was optimistic, he said he was neither optimistic or pessimistic but was going back to talk to the president. the senate majority leader sounded frustrated with house republican leadership. >> american people i don't think understand the house of representatives is operating out the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house representatives to get what they want. >> reporter: as you mentioned, trace, the speaker's spokesman said afterward, reid should focus on legisla
if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican...
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Dec 29, 2012
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. >> t-minus three days until everyone's taxes go up. the politicians are in a mad scramble this morning. so, what are the odds of a deal to prevent disaster? >>> the price of fashion. are your skinny jeans a health risk? why doctors are warning of nerve damage, abdominal pain, heart burn, even blood clots. >>> is britney spears about to lose her job as a judge on a talent show? why simon cowell reportedly calls her toxic to the show's success. >>> and good morning, everyone. we've got a lot to get to this last week of 2012. can you believe this year is almost over? and of course, we're going to start the show with weather. take a look at snow falling overnight in illinois. the year ending with a one-two punch of nasty weather for much of the country. ginger zee will tell us how it will affect your travel plans. >> nothing makes ginger happier than a big winter storm. we'll talk to her in just a moment. >>> speaking of travel. this is exactly what you do not want to hear after you've ponied up for a christmas cruise on "the queen mary 2.
. >> t-minus three days until everyone's taxes go up. the politicians are in a mad scramble this morning. so, what are the odds of a deal to prevent disaster? >>> the price of fashion. are your skinny jeans a health risk? why doctors are warning of nerve damage, abdominal pain, heart burn, even blood clots. >>> is britney spears about to lose her job as a judge on a talent show? why simon cowell reportedly calls her toxic to the show's success. >>> and good...
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Dec 27, 2012
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people are factoring in -- my tax benefits, maybe my taxes will be raised by $22 million a year come january and is having a downdraft on the economy. very irresponsible. i want this solve the. >> dennis: your democratic colleagues said the problem is division among republicans and thought that was a republican/democrat thing. >> it is both. there's plenty of blame to go around on both sides. democrats are to blame for eat the ridge ideological crusade, the congressional budget office and ernst and young warned will destroych ideological crusade, the congressional budget office and ernst and young warned will destroy 2,700,000 middle-class jobs and republicans should try to save as many people as possible. that is the impasse and ultimately the leadership of the house is responsible for not having the house in session right now to be hammering this out. marcy and i can trade charges back-and-forth on tv but we are not in the same room to actually deliver 8 -- deliberate as the legislative process is designed to do. i am embarrassed to be in my district when the house should be in was
people are factoring in -- my tax benefits, maybe my taxes will be raised by $22 million a year come january and is having a downdraft on the economy. very irresponsible. i want this solve the. >> dennis: your democratic colleagues said the problem is division among republicans and thought that was a republican/democrat thing. >> it is both. there's plenty of blame to go around on both sides. democrats are to blame for eat the ridge ideological crusade, the congressional budget...
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first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend less on fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores. >> the bowl game is all decked-out for the game this afternoon against the u.s. navy academy and arizona state. everyone's spirits are high and the game is bringing a boost for the local economy. >> many are here for an extended weekend. >> two teams really excited to be here and their fans are excited to be here. gosh, i think we are filling up all the hotels in san francisco. >> 33,000 tickets have been sold for the match-up. at&t park can take 40,000 so not at capacity yet. organizers believe it will be another banner year for the hunger goal. it's brought the city more than $130 million over the past 11 years
first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend less on fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores. >> the bowl game is all decked-out for the game this afternoon...
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Dec 26, 2012
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so some people are giving more and deciding "i'm going to get the tax break now and do it while it's a good thing for sure" and some people are putting off the decision deciding they isle give more later. so we're seeing a mixed bag but it's a tough time because this is the time of year when most people are doing a lot of charitable giving. >> ifill: let me get your name right this time, jackie, and ask you about federal employees. they are affected by this. there are furloughs, cutbacks, tell me what people are thinking. >> well, federal employees are in the uniquely bad position of facing peril regardless of whether there's a deal. or whether sequestration and the fiscal cliff occurs. >> ifill: the across-the-board cuts. why does it work that way? >> in the event no deal is made and we do have the automatic cuts known as sequestration starting in january, federal employees face job loss and in some situations-- certainly in the department of defense-- but throughout the federal government people will be furloughed, forced to take unpaid days off, anywhere from 20 to 50 days. we rea
so some people are giving more and deciding "i'm going to get the tax break now and do it while it's a good thing for sure" and some people are putting off the decision deciding they isle give more later. so we're seeing a mixed bag but it's a tough time because this is the time of year when most people are doing a lot of charitable giving. >> ifill: let me get your name right this time, jackie, and ask you about federal employees. they are affected by this. there are furloughs,...
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extending tax cuts for those making $250,000 or less. and continuing unemployment benefits for the millions who will lose them when the new year strikes. >> that's the bare minimum that we should be able to get done. >> reporter: it's clear whatever happens, there is no time, now, for a grand bargain on the even tougher issues. cutting spending and raising the debt ceiling. >> we're going to end up with a small, kick-the-can down the road bill, that creates another fiscal cliff to deal with this fiscal cliff. how irresponsible is that? >> reporter: and does washington still, the stock market burns. dropping for a sixth-straight day under this uncertainty. americans are burning up, too. >> this is america. they should be working for the american people. >> can't believe we got this close. >> get in a room and don't come out of the room until you've got this thing taken care of. >> reporter: what the senate leaders hope to do is put together this deal, bring it to the senate tomorrow. then, the house comes back in session tomorrow night. t
extending tax cuts for those making $250,000 or less. and continuing unemployment benefits for the millions who will lose them when the new year strikes. >> that's the bare minimum that we should be able to get done. >> reporter: it's clear whatever happens, there is no time, now, for a grand bargain on the even tougher issues. cutting spending and raising the debt ceiling. >> we're going to end up with a small, kick-the-can down the road bill, that creates another fiscal...
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five days away from the tax hike. as you probably know, the president pulled the plug on his holiday trip to hawaii and arrived back in washington after 11:00 this morning in hopes of locking in taxes as they are right now for all but the wealgyest 2 percewealgy e wealthiest 2%. the house is telling us no, that is not the case. i got jessica yellen standing by and we have dana barb who is standing by and they are there on capitol hill. what is the mix up between sending a plan and not sending a plan by the president? >> hi, john. the bottom line is both sides want to take action and before senat senator mcconnell decides whether to filibuster the measure and whether the other republicans in the party will filibuster, they have to see the details in the proposal. will there be an estate tax provision? how will unemployment which is expected to be extended? will it be paid for? what spending measures will be in this and spending cuts, etc. there will be more details spelled out and where will that come from? will it com
five days away from the tax hike. as you probably know, the president pulled the plug on his holiday trip to hawaii and arrived back in washington after 11:00 this morning in hopes of locking in taxes as they are right now for all but the wealgyest 2 percewealgy e wealthiest 2%. the house is telling us no, that is not the case. i got jessica yellen standing by and we have dana barb who is standing by and they are there on capitol hill. what is the mix up between sending a plan and not sending a...
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Dec 24, 2012
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the 250,000 a year tax cut plus unemployment things and it maybe can kick the can down the road. that will have consequences for the president's agenda in the next year because he wants to get immigration reform done. he wants to get a lot of other things done that really get pushed down the road if fiscal stiff is still weighing on him. >> which side has negotiated in good faith more? the political reporting we've heard is that the president is still at the table. he is saying let's get something done. john boehner is at the table saying he wants to get something done, but -- i think the white house says how is he going to pass plan a or something we negotiated on that we thought we were close on? as congressman ellison said, john boehner has a decision to make. does he bring something to the floor that was similar to that plan a, that big deal that him and the president had forged, but then probably not get a majority of his conference and potentially cost him his speakership. now, will he lose his speakership? it's something that we're sort of skeptical of because the only per
the 250,000 a year tax cut plus unemployment things and it maybe can kick the can down the road. that will have consequences for the president's agenda in the next year because he wants to get immigration reform done. he wants to get a lot of other things done that really get pushed down the road if fiscal stiff is still weighing on him. >> which side has negotiated in good faith more? the political reporting we've heard is that the president is still at the table. he is saying let's get...
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aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate some big spending cuts and restore unemployment benefits. >> i think you're likely to see a two-step process here, one sort of dealing with the immediate dynamics so that you could in fact set up a situation where you could deal with the larger situation. >> reporter: without a deal, bush-era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the deadline, hoping it would force a compromise. so far, that's backfired. also flying back on air force one is lieutenant governor brian schatz and will likely be sworn in later today. just before taking off, he tweeted that he's looking forward to supporting the president's agenda. reporting live in washington, i'm dan yeielle leigh. mara, back to you. >> thank you. >>> tim geithner is adding to the pressure to get the office calf cliff deal done. in an open letter wednesday, he warned the federal government may not be able to pay its bills once the country reaches its borrowing limit on december 31st, which is mon
aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate some big spending cuts and restore unemployment benefits. >> i think you're likely to see a two-step process here, one sort of dealing with the immediate dynamics so that you could in fact set up a situation where you could deal with the larger situation. >> reporter: without a deal, bush-era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the...